Posted on 01/26/2019 6:47:58 AM PST by bgill
Dolores Nielsen, 91, kept an emergency savings account for years. But her hands-off approach caused her trouble. Her bank, SunTrust, declared her account dormant in April and closed the account. She's been trying since August to get her money. "I'm terribly worried," Nielsen said. "My savings have lost so much in value since I retired as it is, and it's very stressful for me." The account had more than $72,000. Dolores' daughter, Barbara, turned to Better Call Behnken for help, after trying for months to get the money and getting the runaround. She says the bank told her the state had the money, and the state told her they didn't and she needed to go back to SunTrust. "Then you start worrying it's disappeared," Barbara said. When accounts go dormant, banks by law must send the money to the state of Florida's CFO's office.
(Excerpt) Read more at wfla.com ...
They would have broken it open, sold the contents and only given you what they got from the "sale" which is generally about one quarter of what they were actually worth.
That is why we have a safe.
What gives them the right to “hold” it for you?
Did they deposit that money?
Did they work to make that money to deposit it?
What right have they to claim that since you put that money into that account, that they can simply reach in and “hold” it?
Since they are “holding” that money, do they pay interest on it since they are likely to be earning interest on it themselves. Dont tell me they reach in and take those funds to simply “hold” it at no advantage to themselves either.
I do not care if that money was put in there ten thousand years ago, that isnt their money and they have no claim to it at all.
Yep.
With guns, ammo, and at a minimum two weeks of living expenses in cash. Preferably a month.
Don’t be silly. Every state state has an unclaimed property law.
The funds can’t be “held” forever by the bank/s.
BTW - Is this woman eligible to vote? Think about that for a minute please - At some point you need to give up your driver’s license; at some point if you can’t handle your own finances you might be incompetent.
But quit trying to say this is the bank’s fault.
The account earns interest if applicable, Once it goes to the state, it does not gain interest.
Nobody is claiming it.
And that is theft.
I find that amazing that some people are in favor of that.
I agree that she might have thought it was a scam, but all someone had to do was call the bank to verify. It would have taken 2 minutes to avoid all of this trouble.
It’s not theft. The money is there for you. But the usual has to happen...YOU have to go to your bank or state to get it. Imagine that. Banks do not deliver.
The state of California steals money. During ahh geez... Gov Schwarzenegger time they raided accounts and safe deposit boxes. Schwarzenegger was ok with it.
#22 Don’t want to worry you but my middle sister was “trusted” without the rest of us knowing and she stole $108,000 from our parents. Maybe get a 2nd person needed to withdraw money.
I've distributed all my money to my children and grandchildren over time......except for a small kitty.
But this is me.....every family is different. My brother and sister...would never trust either. One is a alcoholic, one is a gambler.
But my children....I'm very lucky. They've been very loving, helpful and kind in many ways through the years.
And who gave the state the right to take a persons money to “hold” it without that persons permission?
I dont care if some law by some criminal organization like a state who claims they have a right to whatever they choose. Used to be people like that got shot for things like that.
Maybe your state should come in and confiscate something you havent used for year without your permission. Would you admire them for that?
This is absolutely true. I moved across the country, and forgot about a small savings account I had. About $600.00. It went to the state, and I was notified.
I was unable to get it from the state, no matter what I did.
I was going to make some comment about them still being around when a lot of Texas banks weren’t, but fortunately I checked first. Looks like Cibolo State Bank went away in 1989.
The language is ambiguous. They might be trying to say that even if you are solvent, they can do a setoff if the project becomes undersecured. But maybe they are saying something else.
Or the letter is one those unmarked hard-to-open Envelopes Having Three Perforated Sides: (14 Steps Open-an-Envelope-Having-Three-Perforated-Sides) that contain your PIN number to card. Almost threw mine away as junk mail.
I don’t know if you are on the history ping list; if not, here’s an item from the 1850s that’s related. See post 10 on this thread. https://www.freerepublic.com/focus/f-chat/3721845/posts
Thanks. Robber Barons. Amazing how this has been going on forever.
Folks that are pure Randians and oppose government legislation would let the bad bankers and robber barons get away with even more than they do get away with at this point.
Now, if we’d just regulate big tech ....
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.